Gold is above USD 2,000 per troy oz solidly on Wednesday amid the disappointing data of US job market. The weak economic reports and uncertaintly in the global investment sentiment support the gold hanging near a one-yaer high. The waek job data in US signaling that the US econimy is heading for a sharp slowdown.
How to invest in Art
Investing in art is perceived as an advanced investment for some of the people it is because art is not a liquid asset. However, investing in art is still one of the valuable investments to date. Here are some reasons behind.
More and more people are beginning to see Art investment as a valuable and consider it as a reliable long-term asset. One of the reasons is arts holds its value over time and has a tendency to grow steadily even the other markets fluctuated significantly.
Furthermore, diversifying your investment portfolio is very important for professional investors. It is important to know that having a variety of assets can help to minimize risk.
Coins made of precious metals is one of the options of art investment for beginners. It also one of the popular and affordable investments options for young investors.
Tech Tensions between China and the US escalates
Tech Tensions between China and the US escalates after US allies in Asia and Europe annountced restrictions on the sale of key technology to China. The Cyberspace Administration of China (ACA) has launched a probe into once of the America’s biggest memory chip makers, Micron Technogogy because of the cybersecury concerns. This action is perceived as an apparent retaliation.
The move of China come on the same day that Japan government said that it would restrict the export of advanced chip manufacturing equipment to China to curb China’s semiconductot industry, following the similar moves by the US and other allies.
ACA stated that the aim of this move is to targeting on “ensuring the security of key information infrastructure supply chains, preventing cybersecurity risks caused by hidden products problems, and maintaining national security.”
Micron Technology told CNN it was aware of the review from China authority and they are in communication with the CAC and are cooperating fully. Mircon derives more than 10% of its revenue from China. Its shares sank 4.4 % on Wall Street on Friday and closed another 1.2% lower on Monday following the news.
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Jack Ma is back to China while Alibaba spilt into 6 units
Since the Chinese government began a fierce crackdown on the tech and internet sector in the late of 2020, Jack Ma had been spending time overseas and keeping himself a low profile. The news of Alibaba’s landmark restructuring just came shortly after the return of co-founder Jack Ma to mainland China in a high profile. The restructuring of the internet conglomerate has sent its shares soaring 12% in Hong Kong on Wednesday and surge 14% on Wall Street overnight.
Alibaba’s business will be split into six units: domestic e-commerce, international e-commerce, cloud computing, local services, logistics, and media and entertainment. The restructuring plan is the most significant restructuring in the company’s history.
In October 2020, Jack Ma the once high-profile entrepreneur criticized the country’s financial regulatory system for being too rigid and unfriendly to small business. As a result, the Chinese authorities shelved Ant Group’s IPO at the last minute. After that, a sweeping regulatory crackdown on Big Tech Conglomerates in China.
Some analysts perceived China may need Alibaba now to boost a flagging economy at a critical moment, but just it’s not nearly as powerful as it was. Chinese authority’s major concern is that private tech firms have become too big and powerful and the government sought to reduce the monopolistic nature of many prominent tech companies. Alibaba’s restructuring plan offers a way to limit monopoly power and platform sway. The restructuring plan could serve as a model for other big tech giants going forward.
Investors and analysts have cheered Alibaba’s restructuring. It is a symbol of the Chinese government’s support for private business. Jack Ma’s presence is perceived as evidence of a more supportive approach to the private sector. Come analysts welcomed the move and believed it will lead investors to reassess the valuation of Alibaba.
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